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2019-04-23 11:50:03

WVE

Wave Life Sciences

$27.21

1.43 (5.55%)

11:50

04/23/19

04/23

11:50

04/23/19

11:50

Call buy in Wave Life will create its largest open interest

Call buy in Wave Life will create its largest open interest. Shares up 5.2% to $27.13 and 3K Jan 35s trade $5.95 per contract. The $1.7M option print opens a position struck 29% above spot and comes ahead of earnings, due around 5/9. The stock was north of $42 on 4/9, but has seen a steady wave of selling since then on disappointing clinical trial data for one its drugs.

WVEWave Life Sciences

$27.21

1.43 (5.55%)

04/16/19

STFL

04/16/19DOWNGRADESTFLHold

Wave Life Sciences downgraded to Hold from Buy at Stifel

04/16/19

04/16/19DOWNGRADEHold

Wave Life Sciences downgraded to Hold from Buy at Stifel

As previously reported, Stifel analyst Paul Matteis downgraded Wave Life Sciences to Hold from Buy, and reduced his target price on shares to $26 from $53. The analyst believes the company's Duchenne muscular dystrophy, or DMD, update from this morning "raises concerns around suvodirsen and more broadly, the degree to which leveraging stereochemistry will lead to a differentiated ASO-based medicines." While Matteis still sees Huntington's disease as a potential source of upside for the stock, the "recent delay -- especially in light of the DMD update this morning -- has reduced [the analyst's] level of conviction in Wave management's execution and the bull-case on its platform/technology."

04/17/19

HCWC

04/17/19NO CHANGETarget $33HCWCBuy

Wave Life Sciences price target lowered to $33 from $49 at H.C. Wainwright

H.C. Wainwright analyst Debjit Chattopadhyay lowered his price target for Wave Life Sciences to $33 from $49 following the first look at the company's stereopure isomer platform with a preliminary read on safety and dose for the planned Phase 2/3 program from patients amenable to exon 51 skipping. The analyst believes Wave has a "lot to prove" with limited near-term catalysts. Nonetheless, he keeps a Buy rating on the stock.

04/18/19

MZHO

04/18/19NO CHANGETarget $65MZHOBuy

Mizuho defends Wave Life Sciences, says suvodirsen not drisapersen

Mizuho analyst Salim Syed yesterday afternoon came out "defending" shares of Wave Life Sciences (WVE) following the recent selloff. The reaction has been based on false logic, primarily equating Wave Life's suvodirsen to BioMarin's (BMRN) failed drisapersen, Syed told investors in a research note. Suvodirsen "is NOT" drisapersen and the lower suvodirsen Phase 2/3 dosing versus drisapersen's "does not necessarily imply a lesser or even similar dystrophin expression," Syed wrote. Further, the Phase 2/3 dosing "was selected rationally, seems within the therapeutic window, and is likely favorable to current standard of care," he contends. The analyst adds that the Phase 1 safety data "was still generally clean." Syed keeps a Buy rating on Wave Life Sciences with a $65 price target.

According to a regulatory filing, Ryan Graves informed Uber Technologies of his intention to resign as a member of the company's board of directors, effective as of May 27, 2019, including any committees of the board of directors on which he serves. Graves' resignation was not the result of any disagreement between Graves and the company, its management, board of directors or any committee thereof, or with respect to any matter relating to the company's operations, policies or practices, according to the filing.

U.S. Energy announced that on May 21, Nasdaq notified the company that as a result of not having received its Quarterly Report on Form 10-Q for the period ended March 31. 2019, and because the company is delinquent in filing its Form 10-K for the year ended December 31, 2018, the company does not comply with the requirements of Nasdaq Listing Rule 5250(c)(1) for continued listing on the Exchange. This notification has no effect on the listing of the company's common stock at this time. However, pursuant to the notice, the company was required to submit a plan by May 23, 2019 to comply with the Exchange's requirements for continued listing.

Apple is being sued by customers alleging that the U.S. tech giant is unlawfully disclosing and selling information about users' iTunes purchases as well as their personal data, Bloomberg's Robert Burnson reports. The customers claim that such alleged practices are contrary to Apple's promise in advertising that "What happens on your iPhone stays on your iPhone," Burnson notes. Reference Link

SuperCom received a notification from Nasdaq for not having timely filed its Annual Report on Form 20-F for the year ended December 31, 2018, as previously disclosed by the company on May 16, 2019. The company does not comply with the Nasdaq Listing Rule 5250(c)(1). This notice from Nasdaq has no effect currently on the listing of the company's common stock on the Nasdaq Capital Market.

U.S. Energy announced that Nasdaq notified the company that as a result of not having received the company's quarterly report on Form 10-Q for the period ended March 31 and because the company is delinquent in filing its Form 10-K for the year ended December 31, 2018, the company does not comply with the requirements of Nasdaq Listing Rule 5250 for continued listing on the exchange. This notification has no effect on the listing of the company's common stock at this time. However, pursuant to the notice, the company was required to submit a plan by May 23 to comply with the exchange's requirements for continued listing. The company has submitted the plan to the exchange. If the exchange accepts the company's Plan, the exchange may grant an exception of up to 180 calendar days from the Form 10-K's due date, or until October 14 to regain compliance. The company continues to work toward the filing of the Form 10-Q and the Form 10-K with the SEC as soon as practicable.

Qiagen (QGEN) announced the launch of its therascreen PIK3CA RGQ PCR Kit after it received U.S. regulatory approval as a companion diagnostic to aid in identifying breast cancer patients eligible for treatment with PIQRAY, a newly approved therapy developed and marketed by Novartis (NVS). The therascreen PIK3CA Kit is the first companion diagnostic assay to obtain premarket approval from the FDA for use in any cancer indication for detection of activating mutations in the PIK3CA gene. It is also the first FDA approved assay for guiding treatment decisions in breast cancer using plasma specimens as a liquid biopsy.

Brazil's ANAC said it has suspended all flights and operations of Avianca Brasil in the South American nation as a precuartionary measure, Reuters reports. The move follows Avianca's filing for bankruptcy in late 2018, the report says. "All the flights are suspended until the company proves it has the capacity to maintain operations safely," ANAC said. Reference Link

Apple has bought Tueo Health, a start-up that was making a system to help parents monitor asthma symptoms in sleeping kids, CNBC's Christina Farr and Steve Kovach report, citing a person familiar with the deal. It is not clear how much the U.S. tech giant paid for the start-up, the authors note. Reference Link

A review of Boeing's grounded 737 MAX aircraft has expanded to include emergency procedures used by pilots on earlier models of the plane, further delaying its return to service, the Wall Street Journal's Andy Pasztor reports, citing U.S. government officials. The FAA hasn't questioned the safety of older aircraft currently in service, but the broadened review will play a major role in adding months to the time expected to get the grounded fleet of 737 MAX jets back in the skies, Pasztor notes. As part of the FAA's safety analysis of a proposed software fix for the fleet, the agency is also weighing changes to how pilots of the entire 737 family are trained to respond when the flight-control computer or other systems suddenly push the jet's nose down, the author says. Reference Link

The CBOE Volatility Index (VIX), the SPX option derived measure of implied volatility, fell 1.07 today to close at 15.85, while the underlying SPX index gained 3.82 to close at $2826.06, a 0.14% increase. 274,267 VIX option contracts traded, 38.73% of the typical daily volume for the product. Calls made up 74.0% of the volume.

Volume was average for this time of day. Breadth was mixed with issues and volume bullish while new highs to new lows were bearish (negative divergence). Advancing Issues: 2009 / Declining Issues: 1048 -- for a ratio of 1.9 to 1. Advancing Volume: 915,942,000 / Declining Volume: 681,710,000 -- for a ratio of 1.3 to 1. New 52-Week Highs: 57 / New 52-Week Lows: 114.

Volume was below average for this time of day. Breadth was bullish across the board. Advancing Issues: 1963 / Declining Issues: 956 -- for a ratio of 2.1 to 1. Advancing Volume: 1,549,354,000 / Declining Volume: 986,891,000 -- for a ratio of 1.6 to 1. New 52-Week Highs: 138 / New 52-Week Lows: 89.

Regional Health Properties, Inc. announcement concerning the company's noncompliance with the continued listing standards of NYSE American LLC. On May 21, 2019, the company received an official notice of noncompliance from the Exchange stating that the company is not in compliance with the Exchange's continued listing standards under the timely filing criteria outlined in Section 1007 of the Exchange's company Guide because the company failed to timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2019, which was due to be filed with the Securities and Exchange Commission no later than May 20, 2019. For the reasons previously disclosed in its Form 12b-25 filed with the Securities and Exchange Commission on May 16, 2019, the company has not timely filed the Delayed Form 10-Q because additional time is needed to finalize the Delayed Form 10-Q and furnish the XBRL Interactive Data File exhibits required by Item 601b101 of Regulation S-K. The company is actively working to complete the Delayed Form 10-Q and intends to file the Delayed Form 10-Q under the Securities Exchange Act of 1934, as amended, within the next thirty days. As a result of the foregoing, the company has become subject to the procedures and requirements of Section 1007 of the Company Guide. During the six-month period from the date of the Filing Delinquency, the Exchange will monitor the company and the status of the Delayed Form 10-Q and any subsequent reports until the Filing Delinquency is cured. If the company fails to cure the Filing Delinquency within the Initial Cure Period, the Exchange may, in its sole discretion, allow the company's securities to be traded for up to an additional six-month period, depending on the company's specific circumstances. If the Exchange determines that an Additional Cure Period is not appropriate, suspension and delisting procedures will commence in accordance with the procedures set forth in Section 1010 of the Company Guide.